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Internet. Things. Add the “Of” and suddenly these three simple words become a magic meme — the theme we’ve been hearing all week at CES, the oft-heralded prediction that may have finally arrived in 2013.

While not devoid of hype and hyperbole, the Internet of Things (IoT) does represent a revolution happening right now. Companies of all kinds – not just technology and telecommunications firms – are linking “things” as diverse as smartphones, cars and household appliances to...